- Write by:
-
Thursday, December 19, 2019 - 12:21:30 PM
-
937 Visit
-
Print
Mining News Pro - South African miner Gold Fields said on Wednesday it had received environmental approval for its Salares Norte project, in Chile’s Atacama region.
According to Mining News Pro - While the company has yet to make an investment decision on the project, it said the permit was a crucial step forward.
“The company will now formulate a funding plan, update the feasibility study completed earlier this year and proceed to a construction decision during the first half of 2020,” chief executive Nick Holland said in the statement.
Discovered in 2011, Salares Norte is one of five gold projects set to begin operations in the South American nation over the next three years.
The asset hosts 5.2 million ounces of gold, 39.2 million ounces of silver and 695 million pounds of copper.
Construction is estimated to cost $834 million and generate 2,700 jobs up to the end of 2022, assuming it gets the board’s approval. About 900 workers would be employed when the mine is operational, Gold Fields said.
Once up and running, Salares Norte would generate 450,000 gold ounces a year over a 12-year mine life.
Holland said last month that possible partners could get 20-30% of the project, with Gold Fields retaining a majority stake.
Chile’s gold production peaked in 2000 at 54.1 tonnes, data from the country’s copper commission, Cochilco, shows. The nation, the No.1 copper producer and second largest lithium producer after Australia, currently ranks 16th among the world’s top gold producing nations, according to IndexMundi.com,
Other gold projects set to come online in Chile by 2023 are Kinross Gold’s La Coipa Restart, Yamana Gold’s El Peñón expansion, Canada’s Rio2’ Fenix and Australia’s Kingsgate Consolidated’s Nueva Esperanza.
Short Link:
https://www.miningnews.ir/En/News/460418
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
No comments have been posted yet ...